Polish PMI rises to nine-month high in November

Polish PMI rises to nine-month high in November
By bne IntelliNews December 3, 2017

Poland’s PMI rose 0.8 points to 54.2 in October, a nine-month high, IHS Markit reported on December 1.

The growth signals strengthening business conditions in the Polish manufacturing sector, IHS Markit notes. That, in line with most projections, bodes well for economic growth in the fourth quarter.

Output growth accelerated at the fastest rate since March, while new orders increased sharply, IHS Markit notes. Delivery times extended, however, while input price inflation accelerated for the fourth successive month, leading to another strong rise in charges for manufactured goods, according to the analysts.

The reading follows a robust performance from the industrial sector in October. Output expanded 9.7% y/y in adjusted terms in the ninth month period, 2.2pp faster than the adjusted annual growth in September. The data for November is due later this month. 

“November PMI data signaled further strong growth of the Polish manufacturing sector towards the end of 2017. The PMI looks set to achieve its strongest annual trend level since 2010," IHS Markit’s economics director Trevor Balchin said in a comment.

Polish PMI has now remained above the 50-point threshold separating stagnation from growth for 38 months straight now, the longest sequence of unbroken positive readings since the survey began in 1998.